New American Funding Reviews

This is my 5th loan, and it was by far the most difficult one to acquire. It was also my lowest loan amount. I'm a real estate agent and an investor. I had no idea what was going on with this entire loan process. I always followed up to make sure I had given them everything they needed, but it wasn't until the last two weeks before closing that much more information was needed. And information that I had never had to provide before. It was really frustrating. The communication was pretty horrible. I don't think my experience would have been that bad if they had called and explained things to me or assure me why these new documents were needed. There was definitely a disconnect between me, Caroline and Latoyia. I have worked with Caroline before, when she represented my clients. I decided to give her and New American Funding a try because the transaction went so smoothly with my clients (Despite that fact that I have a local lender I have been using for years). But my experience was so different and so difficult, I totally regret it. I did 19 sales in 2021 as a part time agent and plan to double my sale this year going full time. I am looking to work with a lender that knows what they are doing, if they mess up-own it, communicate well (as in call me. If you have to text or email me more than 3x per day on the same issue, just call. Make that connection), and a lender that can handle the difficult situations and loan. Any lender can pre-approve a loan, but the good lenders are the ones that get them full approved even when faced with the difficult scenarios. I have a few more transaction with Caroline and New American Funding. I am going to give everyone that benefit of the doubt and see how these transactions go before deciding rather or not to partner with this lender.

Better communication once I agreed to go with you would have been great. I felt like I was put on the back burner and had to reach out myself to find out what was going on. Not to mention it took almost a week after my “loan has been funded” to actually have the money in my account and that took a few emails asking where is my money

Better communication and info regarding title company, deed, rate lock dates, etc.

Better communication on what was going on as I work 7 days a week and needed more time to get needed paperwork in.

Nick was a very nice person, but I did not like the hard sell for the Buyer Accepted Program, My Real Estate agent advised me that it really did not offer any advantage given the structure of my loan and size of my down payment, and she was correct. When the buyer was presented with choice that I could finance the house either way, the buyer said that it did not matter. This happened with two offers I put in, indicating that the BAP did not give me any advantage, yet the product was constantly mentioned even when I made it clear that I was not interested. Again, he was very pleasant and polite, but I felt that he could improve with his listening to the client.

It was mostly from the Buyers side. They were so frustrated with the loan officer on this transaction they almost pulled the plug on it. Thankfully it closed and successfully. I was the agent on both sides.

Communication was lacking after paperwork was done online and even after apraisal was done. I had to reach out several times to see status of the loan. I called and emailed several times with no reply. This seemed to take a long time to close and the information they asked for was more than any loan I have done in the past. Seemed excessive for this type of loan

More communication earlier than the week of closing